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Iraq Fails to Meet OPEC+ Oil Target Even After Lowering Output
Iraq again missed its OPEC+ oil production target in March, potentially setting itself up for added scrutiny as the alliance prepares to review the country’s plan for supply. OPEC’s second-biggest producer pumped 4.17 million barrels a day last month, 30,000 barrels a day less than in February, according to a Bloomberg survey. While that’s Iraq’s lowest output level this year, it’s still about 170,000 barrels more than pledged as the alliance curbs production to prop up the market. Oil Minister Hayyan Abdul Ghani last month said the country would trim both output and exports, after breaching its production ... (full story)
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- Posted: Apr 3, 2024 4:59pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 234
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